NPPC Economic Update Gives Snapshot of Current Pork Industry Opportunities and Challenges
The National Pork Producers Council (NPPC) released its latest pork industry economic update that summarizes key pork industry market indicators through January 2023.
Q1 takeaways include:
- After declining 2.5% in 2022, USDA projects growth in pork production for 2023.
- Retail pork prices increased by 1.5% from December 2021 to 2022.
- The cost of raising pigs was record high in 2022, increasing 21% from the previous year.
- Labor market conditions and changing demographics are exacerbating the rural labor shortage...
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